Which model of oligopoly results in the greatest efficiency?
A. collusion model
B. contestable markets model
C. Cournot model
D. price leadership model
Answer: B
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According to the classical model, prices and wages
A) must be set by government. B) move upward easily, but are "sticky" downward. C) are flexible. D) move downward easily, but are "sticky" upward.
Full employment corresponds to
A) equilibrium in the labor market, with actual GDP being equal to potential GDP. B) labor demand being greater than labor supply and actual GDP being equal to potential GDP. C) being at the point where the marginal product of labor equals zero. D) equilibrium in the labor market, and actual GDP exceeding potential GDP.
Who are the voting members of the Federal Open Market Committee and why is this committee important? Where does the power lie within this committee?
What will be an ideal response?
The amount of money that can potentially be generated from each dollar of reserves is measured by the ______.
a. money multiplier b. discount rate c. interest rate d. required reserve ratio